Century Therapeutics (NASDAQ:IPSC) Price Target Lowered to $4.00 at Piper Sandler

Century Therapeutics (NASDAQ:IPSC) had its price objective lowered by equities researchers at Piper Sandler from $12.00 to $4.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 290.24% from the stock’s current price.

IPSC has been the topic of a number of other research reports. Chardan Capital lowered their target price on Century Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. HC Wainwright dropped their price objective on shares of Century Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $10.00.

Century Therapeutics Stock Down 1.4 %

NASDAQ IPSC traded down $0.02 on Monday, hitting $1.03. The stock had a trading volume of 147,321 shares, compared to its average volume of 319,537. The company’s 50-day moving average is $1.33 and its two-hundred day moving average is $1.77. The stock has a market cap of $87.15 million, a price-to-earnings ratio of -0.55 and a beta of 1.65. Century Therapeutics has a one year low of $0.95 and a one year high of $5.51.

Century Therapeutics (NASDAQ:IPSC) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.08. The business had revenue of $0.79 million during the quarter, compared to the consensus estimate of $0.47 million. Century Therapeutics had a negative net margin of 4,837.73% and a negative return on equity of 61.66%. During the same quarter in the prior year, the company posted ($0.55) earnings per share. On average, sell-side analysts anticipate that Century Therapeutics will post -1.63 earnings per share for the current year.

Hedge Funds Weigh In On Century Therapeutics

A number of large investors have recently added to or reduced their stakes in IPSC. Bank of New York Mellon Corp boosted its stake in shares of Century Therapeutics by 110.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock worth $380,000 after acquiring an additional 78,088 shares during the period. Rhumbline Advisers increased its holdings in shares of Century Therapeutics by 56.0% during the second quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock worth $134,000 after purchasing an additional 18,828 shares during the period. Dimensional Fund Advisors LP lifted its stake in Century Therapeutics by 141.7% during the second quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock worth $192,000 after purchasing an additional 44,155 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Century Therapeutics by 6.1% in the 2nd quarter. Renaissance Technologies LLC now owns 165,500 shares of the company’s stock valued at $422,000 after purchasing an additional 9,500 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Century Therapeutics in the third quarter valued at about $27,000. Institutional investors own 50.20% of the company’s stock.

About Century Therapeutics

Century Therapeutics, Inc, a biotechnology company, engages in the development of genetically engineered allogeneic cell therapies for the treatment of solid tumor and hematological malignancies. Its lead product candidate is CNTY-101, an allogeneic, induced pluripotent stem cells (iPSCs)-derived chimeric antigen receptors (CAR)-iNK cell therapy, under Phase 1 trials targeting CD19 for relapsed, refractory B-cell lymphoma.